Petra is one of their members, she works selling meals and snacks. She began her business by just selling ready-made duritos [puffed wheat snacks]. The loan will help her to stock her snack bar and buy more items to prepare meals. Petra would like to set up a stationary shop and fix up her house so she can carry out both businesses in the same space.
She is a responsible 47-year-old woman. She lives in a common-law marriage and has 3 children, two adult children who are 26 and 24 years old and one 10 year old daughter who is dependent on her.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid